Emerging Markets team
"Although the market price of a security and its intrinsic business value are positively correlated in the long run, short-term divergences can emerge. We seek to take advantage of these divergences through our disciplined, fundamental, bottom-up approach."
Liu-Er Chen, Chief Investment Officer — Emerging Markets and Healthcare
Our team strategy focuses on investing in emerging market companies with sustainable franchises that are trading below what we believe to be their intrinsic value, and have a high potential to earn returns above capital costs over the long term. We identify these companies by using a strong valuation discipline with focused analysis on a company’s ability to sustainably exploit a large market opportunity.
We seek to invest in companies that, in our view, offer:
- Identifiable competitive advantages
- High entry barriers and replication costs
- Products and services that benefit from secular or cyclical growth opportunities
We believe our focus on creative destruction is an important element of our process as it conditions us to anticipate and take advantage of change in the rapidly shifting emerging market investment landscape.
Separate accounts strategies managed: